News Focus
News Focus
Followers 56
Posts 795
Boards Moderated 0
Alias Born 09/14/2003

Re: Mhap post# 27177

Wednesday, 05/21/2014 1:16:45 PM

Wednesday, May 21, 2014 1:16:45 PM

Post# of 54103
Good post. I might add, Manu had no control over the contract/schedule on the well. This was a contract between Effingham Industrial Development Authority (IDA) and Pinco. The county held up on signing the contract until they had confidence in Medient's plans. I don't think the country would give the go ahead to start drilling, if they didn't feel Medient was ready to move with the Studio. The county is paying for this! Here's a link to the IDA article regarding the well.

http://beta.effinghamherald.net/section/22/article/25010/

This is not a well that they are drilling in someones backyard. Small water wells for families can be drilled and sealed in a few days to a week, but those will allow up to about 1,500 gallons use/day. The one they are drilling will have a capacity of up to 2million gallons? even though the permit allows for 150,000 gallons/day. 1.5k vs 2mil gallons....huge difference. Factor in drilling, ensuring stability, sealing, inspections, etc etc....280days doesn't seem outrageous.

Discover What Traders Are Watching

Explore small cap ideas before they hit the headlines.

Join Today